Employees work at the workshop of Harbin Electric Machinery Company Limited in Harbin, northeast China's Heilongjiang province, March 9, 2020. (WANG JIANWEI / XINHUA)
BEIJING – The combined profits of China's state-owned enterprises skyrocketed 240 percent from a year ago to 1.36 trillion yuan (about US$213.25 billion) in the first four months of 2021, official data showed Friday.
During the period, the profits of centrally administered SOEs rose 160 percent year-on-year to 961.08 billion yuan, according to the Ministry of Finance.
The SOEs saw their total revenue surge 32.2 percent year-on-year to about 22.22 trillion yuan
ALSO READ: China's central SOEs spent more on R&D in 2020
The SOEs saw their total revenue surge 32.2 percent year-on-year to about 22.22 trillion yuan.
The revenue of centrally administered SOEs increased by 27.6 percent year-on-year to nearly 12.64 trillion yuan.
READ MORE: China's central SOEs report robust profit growth in Q1
At the end of April, the debt-to-asset ratio of the country's SOEs came in at 64.3 percent, edging down 0.1 percentage points from the level seen during the same period last year, the data showed.